You know why? We got a bear market during a bull market right after a bear market where we broke the previous cycle high to the downside. Ngu isn't some kind of optional luxury, it stops you drowning in fiat and all the ways it is currently trying to fuck you. I detest these sanctimonious op posts. It's hard out there anon, don't let anyone tell you otherwise.
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Replies (13)
It is hard out there but people still gotta take responsibility for themselves and those they care about.
We don't have the sense of community in the west that our grandparents grew up with anymore sadly
Our grandparents bought houses for a bag of boiled sweets. It's easier to build a sense of community when you actually have a community. I don't look at boomers with any sense of idealism.
Wallstreet wants that sweet btc. It's very obvious price suppression is happening while M2 money supply is expanding. Marty should not be gaslighting us on what Saylor and suits team are doing
This is the exact play-book as what they are doing to gold and silver; naked futures
Also, come out very strongly against btc collateral loans. This is what's chopping the price even more btw
ops out here running amock without nostr:nprofile1qqszp5avl025yvj04lvlg0r6exzjx7hx2v232pf273kxg86s00mw0kqppemhxue69uhkummn9ekx7mp08c4n2e
Price just dumped again. What a surprise
how do these loans affect price if they are not rehypothecated?
i'm seriously considering a loan just to avoid tax reporting... i'm really worried about how to report taxes for selling BTC to pay bills.
it seems worth it to pay 10% to someone else for a year just to avoid figuring out how to accurately report taxes.
They use the bitcoin on the balance sheet to play in the futures market. They call it hedging but in reality they are shorting the future price of bitcoin thus why I call this move paper btc or naked shorts. As they don't actually have the "physical bitcoin" but they do have a balance sheet with the representation of that said bitcoin...
I can't advise you on what to do but just know that this was a very stressful situation when I had one of those loans. They start as 5% of your holdings but quickly become 50% or more as you have to keep on adding collateral in order not to get liquidated
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FTX was doing this. Who do you think is doing this now? Coinbase?
I think all of them including all lending platforms
i see how the balance sheet could be weaponized. yeah, i don't want that to happen.
Ledn does have a "no rehypothecation" check box. however checkboxes are not SHA-256 hashes so they could accidentally be "unchecked" at some future point.
good to know. thank you
I asked ChatGPT how does the lender make money in lending. Besides interest, it gave me this answer. You are welcome to verify it yourself too:
"Market-making and yield strategies.
Institutional lenders may use deposited BTC in:
Market-making on exchanges
Basis trades (spot vs futures)
Providing liquidity in derivatives markets
These generate additional yield on top of interest."
